Illinois
8:49 am
Mon September 24, 2012

Crundwell Horse Sale Underway

A live auction of hundreds of horses kicked off this weekend in northern Illinois. The animals once belonged to Dixon's former comptroller, who's accused of embezzling millions of dollars from the city.

The two-day auction started Sunday. Federal marshals say more than 140 of Rita Crundwell's prized horses and related items sold for nearly $2.5 dollars. One of the animals brought in $775,000.

There will be additional bidding today for the remainder of the horses once owned by Crundwell, who agreed to the sale. Proceeds will go into an escrow account. If Crundwell is convicted, federal officials would give that money to the city of Dixon. If she's acquitted, the profits return to her.

Authorities say while on the job, Crundwell stole money to fund a lavish lifestyle and a horse breeding operation.  In addition to federal charges, authorities announced a state indictment last week.